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Peoria SD150 Presents Budget Amendment; Public Hearing Set for June 8
Summary
Chief Financial Officer Mick Willis outlined a 2025–26 budget amendment that reflects a 7.72% assessed‑valuation increase, an approximately $1 million revenue uptick and a projected $2.2 million operating surplus; the amended budget will be on public display for 30 days with a hearing June 8.
Peoria Public Schools’ chief financial officer, Mick Willis, presented a budget amendment April 27 that adjusts revenue and expenditures for fiscal 2025–26 and sets the amended budget for public review.
Willis told the board the district’s earlier estimate of a 2% rise in assessed valuation was replaced by final county figures showing a 7.72% increase, which translated to roughly $1 million in additional operating revenue in the amendment. He also said higher gas and utility costs required expenditure adjustments but that the district was still projecting an operating surplus of about $2.2 million for 2025–26.
The amendment process includes a public display of the budget for at least 30 days at district offices and a public hearing scheduled for June 8 during the regular board meeting; the board will take action on the amended budget at a later meeting. Willis emphasized that non‑operating capital plans remained largely unchanged and provided an overview of revenue and expenditure trends: year‑to‑date revenue at about $180.8 million (75.3% of budget) and expenditures at $195.2 million (78.3% of budget), with the district running slightly ahead on revenues relative to trend.
Board members asked about the audit timeline and implementation implications; Willis said the audit completion was scheduled for June 15 and staff would continue to provide weekly updates. The public will be able to review the amendment at the receptionist’s office and submit comments at the June 8 hearing.
